What do you propose Wal-Mart do in these localities?
People engage in a lot of magical thinking to justify theft since it seems like a harmless act. Thieves are just trying to feed their families! Insurance will cover it! Etc.! It's really unfortunate, they're going to learn the hard way as not only Walmart but other retail stores in their areas flee.
Even in California where there's some conspiracy theory about how "It's the DAs fault the police aren't doing anything", as if it's the police's responsibility, or even their jurisdiction, to pick and choose who should go to jail.
Cops should be bringing in people violating the law even if nobody ever went to prison!
https://lithospos.com/blog/shrinkage-in-retail-and-how-to-pr...
Together this puts theft at a solid majority (66%) of shrinkage.
Out of $6 TRILLION (Just in the US!) worth of brick and mortar retail sales in the same year, in an industry that claims 2% profit margins on the low ends.
All the fuss over shoplifting is just noise. Consider that the same survey which produced those numbers also showed that a full 16% of ALL merchandise sold in retail is returned, yet we don't have news channels blaring all over that we are in a crisis of unfit products.
It's a narrative, and a bad one, to blame greedy price increases on a STABLE total rate of shrink, one that has been roughly 1.5% for over a DECADE. The cost of shrink has been factored in to the price of goods forever.
You should definitely go to YCombinator and use this valuable perspective to start a brick and mortar retail firm
>Out of $6 TRILLION (Just in the US!) worth of brick and mortar retail sales in the same year, in an industry that claims 2% profit margins on the low ends.
So shoplifting is 29% of net profits? I'm sorry, which side of this argument are you on, exactly?
For comparison, in Texas, the misdemeanor limit is at $2,500.
Also it becomes a felony if any theft has been committed more than 3 times: `(D) the value of the property stolen is less than $2,500 and the defendant has been previously convicted two or more times of any grade of theft;`
In those other states its hard to get the police to even respond to shoplifting calls let alone make an arrest. And even if they did, the prosecutors will dismiss the charges or give them a slap on the wrist (which is why the cops don't bother anymore).
Just like in California.
Citation needed